Reinsurance News
Generali
Generali sees GWPs up 6.1% in Q1 2022
19th May 2022
Generali is reporting that its gross written premiums in Q1 2022 to €22.3bn, or 6.1%. However, the firm said that its net result was down to €727m in the quarter, down from €802m in the preceding year’s same quarter. This, it said, had been impacted by impairments on its Russian investments ... Read the full article
Generali makes three appointments in Italy
13th May 2022
Generali Country Italy and Global Business Lines has announced that Giulia Raffo, Manlio Lostuzzi, and Ludovic Bayard have been appointed to new roles. The firm said that Raffo was to be its new CFO, Lostuzzi was to take on the role of head of Generali Global Business Lines insurance technical coordination, ... Read the full article
Generali acquires stakes in Indian P&C joint venture
9th May 2022
Italian insurer Generali has announced that it has finished acquiring 25% of the shares of P&C business, Future General India Insurance (FGII), following regulatory approval. Following the acquisition, the firm will now hold a stake of around 74% in FGII. The deal was originally signalled in January, alongside an acquisition of 16% ... Read the full article
Philippe Donnet to remain as Generali CEO
29th April 2022
Shareholders of Italian insurance giant Generali voted today in favour of keeping current Chief Executive Officer (CEO), Philippe Donnet, in his role with a margin of ~56% of voting capital in favour. At the insurer's AGM today, held remotely owing to COVID-19 concerns, Donnet's term was renewed despite a challenge from ... Read the full article
Generali & UNDP aim to improve insurance access for the most vulnerable
8th April 2022
Global insurer Generali has entered into a multi-year partnership with the United Nations Development Programme (UNDP) designed to provide emerging countries with better access to insurance and risk finance solutions. Under the agreement, Generali has committed technical and financial resources to the UNDP's Insurance and Risk Finance Facility. By bringing together Generali's ... Read the full article
Generali buys stakes in Indian offshoots
30th March 2022
Generali has finished acquiring 16% of Future Generali India Life (FGIL), following regulatory approval. The firm said it had bought what amounted to the entire stake held by Industrial Investment Trust, alongside additional shares. Generali now holds a stake of around 68% in FGIL, which may increase further to 71% by ... Read the full article
Ingosstrakh facing financial challenges due to Ukraine invasion: GlobalData
16th March 2022
According to data and analytics company GlobalData, Ingosstrakh, the fourth largest general insurer in Russia could be facing significant financial challenges following Russia’s invasion of Ukraine. In 2020, the insurer earned 36.3% of its RUB106.5 billion ($910.1 million) premium income in the Marine, Aviation and Transit (MAT) insurance market which has ... Read the full article
Generali result up 63%, with growth across segments
15th March 2022
Italian insurer Generali has posted a 63.3% growth in its net result year-on-year, finishing 2021 with a figure of €2,847 million, compared to €1,744 million previously. The performance was aided by positive growth across all business segments with strong technical profitability across both life and property and casualty (P&C) business. Generali's operating ... Read the full article
Generali severs Russia ties
4th March 2022
Generali is to close its Moscow office, resign its positions on the board of Ingosstrakh, and wind down its Europ Assistance business due to Russia’s invasion of Ukraine. In addition, the company said it was reviewing all its investment and insurance business in Russia and will comply fully with all applicable ... Read the full article
Generali agrees to acquire La Medicale for €435mn
2nd February 2022
Generali has agreed to acquire La Médicale, an insurance company for healthcare professionals, for an expected €435 million as part of the company's strategic growth plan. The acquisition follows the exclusive negotiation with Crédit Agricole Assurances, which was announced last November, and the consultation of the dedicated workers’ councils. The transaction also ... Read the full article
Generali takes majority stakes in Indian life and P&C ventures
27th January 2022
Italian insurer Generali has announced new agreements to become the majority shareholder in both its Life and P&C joint ventures in India. The company plans to acquire 25% of the shares of P&C business Future Generali India Insurance (FGII) and 16% of Life business Future Generali India Life (FGIL), bringing its ... Read the full article
Generali (GC&C) makes new appointment
24th January 2022
Alejandro Muñiz has joined Generali Global Corporate & Commercial as its new head of construction and green energy. Muñiz’s appointment with the company began on 1 January and is being undertaken In addition to his current role as head of engineering underwriting Iberia & LatAm. In his new position, he will revamp ... Read the full article
Generali outlines new three-year strategy
16th December 2021
Italian insurer Generali has outlined a new three-year strategy to deliver sustainable growth across its core and emerging business lines, enhance its earnings profile, and drive innovation. Under the plan, Generali will enhance its earnings profile, increase the profitability of its Life business, invest € 1.1 billion in technology and digital ... Read the full article
Generali partners with Accenture, Vodafone Business on cyber solutions
15th December 2021
Generali has joined forces with Accenture and Vodafone Business on the creation of cyber insurance services designed to help corporate and SMEs clients more effectively recognize, respond to and recover from cybersecurity threats and incidents. The initiative includes cyber risk assessments, phishing simulations and learning programs. The new services are aligned to ... Read the full article
Generali in talks to acquire La Médicale from Crédit Agricole Assurances
25th November 2021
Italian insurer Generali has entered into exclusive negotiations to acquire La Médicale, the insurance subsidiary for healthcare professionals owned by Crédit Agricole Assurances. Under the terms of the arrangement, Generali France will also acquire Predica's death coverage portfolio, which is marketed and managed by La Médicale. Predica is a life insurance entity ... Read the full article
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